Latest news with #INDSECURE
Time of India
10-07-2025
- Business
- Time of India
Investing in FDs? Banks now offer interest rates up to 8.10% on 444 day scheme; check list
Are you planning to invest in fixed deposits, but wondering which bank offers the best interest rate? While many banks have recently lowered their FD rates following the Reserve Bank of India's repo rate cut, several public, private, and small finance banks are still offering highly competitive returns, especially on special 444-day deposit schemes. Some of these rates go as high as 8.10% for senior citizens, as per an ET report, making it a golden opportunity for those looking to grow their savings securely. These special FD schemes present a timely opportunity for investors to lock in higher returns before rates fall further. Here's a look at some options available for both regular and senior citizen investors, offering the best FD rates on 444-day deposits: Special deposit schemes by leading banks State Bank of India: SBI, under its Amrit Vrishti scheme offers 6.60% for general depositors, 7.10% for senior citizens, and an extra 10 basis points for super senior citizens. Bank of Baroda: BoB, through its bob Square Drive Deposit Scheme, also offers 6.60% for regular customers and 7.10% for seniors. Indian Bank: It offers 6.90% for general investors and 7.40% for senior citizens under its IND SECURE plan. Super senior citizens can earn as much as 7.65%. These rates are valid until 30 September 2025. Canara Bank: It offers 6.60% to regular citizens and 7.10% to seniors. High-yield options from other banks ESAF Small Finance Bank leads with 7.60% for regular depositors and 8.10% for seniors, the highest on the market currently. Karur Vysya Bank offers 6.85% for general customers and 7.25% for seniors. Indian Overseas Bank gives 6.95% and 7.45%, respectively. Punjab & Sind Bank offers 7.05% for regular customers and 7.55% for seniors. Federal Bank provides 6.85% to regular customers and 7.35% to seniors, according to data provided by Paisabazaar. Early withdrawals and TDS rules Withdrawal: Fixed deposits can be withdrawn before maturity if they are booked under callable options. However, banks typically impose a penalty of 0.50% to 1% on early withdrawals. The exact penalty amount depends on the bank's policy. Some banks waive this penalty for senior citizens or under specific conditions, such as medical emergencies or if the deposit has been held for a minimum duration. TDS: Regarding tax, a Tax Deduction at Source (TDS) is applicable when the interest earned on FDs or recurring deposits exceeds Rs 50,000 in a financial year (Rs 1 lakh for senior citizens). A TDS certificate detailing the tax deducted during the quarter will be sent at the end of each quarter of the financial year. It's important to note that TDS can slightly impact your final maturity amount, especially in reinvestment deposits. According to the HDFC Bank website, in case of reinvestment deposits, interest is reinvested after TDS is deducted. As a result, the final maturity amount may vary depending on the amount of tax deducted and the impact of reduced compounding on that tax amount over the remaining tenure. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
10-07-2025
- Business
- Time of India
Get FD interest rate up to 8.1%: Check which bank is offering highest interest rate on FDs with 444 day tenure
Several public and private sector banks, including small finance banks, are offering attractive fixed deposit interest rates, particularly for a 444-day tenure. Senior citizens can earn up to 8.10%, despite many banks reducing FD rates after the RBI's repo rate cut. Investors should compare rates to secure the best returns, considering factors like premature withdrawal penalties and TDS implications. Tired of too many ads? Remove Ads Special deposits offered by top banks Tired of too many ads? Remove Ads Regular citizen Senior citizen ESAF Small Finance Bank 7.60 8.1 Karur Vysya Bank 6.85 7.25 Indian Bank 6.90 7.40 Indian Overseas Bank 6.95 7.45 Punjab & Sind Bank 7.05 7.55 Canara Bank 6.60 7.10 Bank of Baroda 6.60 7.10 Federal 6.85 7.35 SBI 6.6 7.10 Can FD be withdrawn before maturity? Tax Deduction at Source Can TDS influence the maturity of deposit? Several banks in the public sector and the private sector, including small finance banks, are offering attractive interest rates on fixed deposits with a specific tenure of 444 days. The highest rate currently goes up to 8.10% for senior citizens. This is despite the fact that many banks have been reducing fixed deposit (FD) interest rates after the Reserve Bank of India (RBI) reduced the repo rate at its bi-monthly Monetary Policy Committee meeting. So, FD investors should make sure to get the best rate on their us look at the banks that are offering the best FD rates for both regular and senior citizen investors on 444-day deposits. State Bank of India (SBI) on Amrit Vrishti offers 7.10% for senior citizens and 6.60% for regular depositors. For super senior citizens the bank offers 10 bps higher over the interest rate applicable for senior citizens. Bank of Baroda on bob Square Drive Deposit Scheme offers 7.10% for senior citizens and 6.60% for regular depositors. Indian Bank on IND SECURE special deposit offers 7.40% for senior citizens and 6.90% for regular citizens. For super senior Citizen the bank offers 7.65%This rate is applicable till September 30, read: No penalty on minimum balance: 6 banks that have removed savings accounts balance requirement ESAF Small Finance Bank offers the highest interest rate of 8.10% for senior citizens and 7.60% for regular depositors. Karur Vysya Bank provides 7.25% for senior citizens and 6.85% for regular citizens. Indian Overseas Bank gives 7.45% to senior citizens and 6.95% to regular citizens. Punjab & Sind Bank offers 7.55% for senior citizens and 7.05% for regular depositors. Federal Bank provides 7.35% for senior citizens and 6.85% for regular Paisabazaar dataYes, fixed deposits (FDs) can be withdrawn before maturity; however, banks may levy a penalty. Note that FDs can be withdrawn only if it is booked under a callable deposit. Most banks impose a penalty ranging from 0.50% to 1% for early withdrawal. The exact penalty depends on the bank's policy. In some cases, banks may waive the penalty if the deposit has been held for a specified minimum period, for some specified reason or for senior citizens .TDS will be deducted when interest payable or reinvested on Recurring Deposit and FD per customer across all branches, exceeds Rs.50,000 and Rs. 1,00,000/- for senior citizens)= in a financial year. TDS Certificate will be mailed to you after end of every quarter during the financial Year providing the details of TDS deducted during the per HDFC Bank website, 'Yes, in case of reinvestment deposits ,the interest reinvested is post TDS recovery & hence the maturity amount for re-investment deposits would very to the extent of tax and compounding effect on tax for the period subsequent of deduction till maturity.'
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Business Standard
11-06-2025
- Business
- Business Standard
Earn up to 7.65% with Indian Bank's IND SECURE FD: Offer ends in Sept
Indian Bank revises IND SECURE FD rates, now offering up to 7.65 per cent p.a. for 444 days, available till September 30 New Delhi Indian Bank has revised the interest rates on its special fixed deposit scheme, IND SECURE, offering up to 7.65 per cent per annum for a limited period. The new rates are effective from June 9, 2025, and the scheme will be open for investment until September 30, 2025. IND SECURE: A high-interest FD option Launched on May 8, 2025, IND SECURE is a retail term deposit product with a maturity period of 444 days. The scheme allows deposits starting from Rs 1,000 to under Rs 3 crore. The revised interest rates under the scheme are: · General public: 6.90 per cent per annum · Senior citizens: 7.40 per cent per annum · Super senior citizens (80 years and above): 7.65 per cent per annum Earlier, the highest rate under this scheme was 7.15 per cent for the general public, 7.65 for senior citizens and 7.90 per cent for super senior citizens. The latest revision lowers rates, but still offers relatively attractive returns, especially for older investors. 'The bank reserves the right to withdraw or modify the scheme at its discretion before the deadline,' Indian Bank noted on its website. IND GREEN deposit: Rates unchanged Indian Bank's other special deposit, IND GREEN, aimed at promoting sustainable development, continues to offer existing interest rates for a 555-day term. This scheme, too, accepts deposits from Rs 1,000 up to less than Rs 3 crore. Current rates are: · General public: 6.80 per cent · Senior citizens: 7.30 per cent · Super senior citizens: 7.55 per cent Revised regular FD rates across tenures Alongside special schemes, Indian Bank has also updated its regular fixed deposit rates. For deposits below Rs 3 crore, the latest callable FD rates range from 2.80 per cent to 6.90 per cent, depending on tenure. The highest rate, 6.90 per cent, is now aligned with the IND SECURE offering for the general public. Indian Bank FD interest rate highlights: · 7 days to 45 days: 4.75 per cent – 5.25 per cent · 91 days to less than 1 year: 5.75 per cent – 6.00 per cent · 1 year: 6.25 per cent · 3 to 5 years and beyond: 5.50 per cent Senior and super senior citizens continue to earn an additional premium over the standard rates. Below is a table of the FD rate and tenures provided by the bank on its website Maturity Period Revised w.e.f 09.06.2025 Rate (% per annum ) 7 days to 14 days 2.8 15 days to 29 days 2.8 30 days to 45 days 3 46 days to 90 days 3.25 91 days to 120 days 3.5 121 days to 180 days 3.85 181 days to less than 9 months 4.5 9 months to less than 1 year 4.75 1 year 6.1 Above 1 year to less than 2 years (Except 444 & 555 Days) 6.6 444 Days 6.9 555 Days 6.8 2 years to less than 3 years 6.4 3 years to less than 5 years 6.25 5 year 6 Above 5 years 6 Should you invest? With repo rates trending lower post-RBI's recent policy move, fixed deposit rates across banks are beginning to soften. The IND SECURE scheme offers a short-term opportunity for savers, especially older investors, to lock in relatively higher returns for 444 days
Time of India
11-06-2025
- Business
- Time of India
Special FD rate up to 7.65%: Indian Bank revises IND SECURE FD rates for limited period
Synopsis Indian Bank has revised its fixed deposit rates, effective June 9, 2025, including changes to the IND SECURE scheme with a 444-day tenure, offering 6.90% to the general public. Senior and super senior citizens can earn up to 7.65%. However, IND GREEN deposit rates remain unchanged, providing up to 7.55% for super senior citizens.
Time of India
20-05-2025
- Business
- Time of India
Comparing 444-day FD schemes: Which bank offers what rate? Check details
AI-generated image Several banks have recently reduced their fixed deposit interest rates , with numerous banks introducing specialised 444-day FD schemes featuring competitive rates. These time-limited offerings seek to draw depositors looking for enhanced returns in a fluctuating interest rate climate. Below is a comprehensive analysis of schemes from four major banks, as quoted by Economic Times. SBI's "Amrit Vrishti" delivers a 6.85% annual interest rate for regular customers. Senior citizens receive 7.35% yearly, while super senior citizens (80 years and above) enjoy 7.45% per annum. These rates commenced from May 16, 2025. Canara Bank's 444-day deposit scheme offers 7.25% yearly interest for regular customers (deposits under Rs 3 crore), with senior citizens receiving 7.75% per annum. This programme began on April 10, 2025. The "Square Drive Deposit Scheme" from Bank of Baroda provides 7.10% annual interest. Senior citizens qualify for 7.60%, and super senior citizens (80 years and above) can earn 7.70% yearly. These rates took effect from May 5, 2025. Indian Bank's "IND SECURE" scheme spans 444 days, offering regular customers 7.15% yearly interest. Senior citizens receive 7.65%, whilst super senior citizens (80 and above) can secure 7.90% per annum. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo This scheme remains available until September 30, 2025. Key details (Source: Bank websites as on May 20, 2025) State Bank of India Scheme: Amrit Vrishti Tenure: 444 Days Rates: 6.85 per cent (General), 7.35 per cent (Senior), 7.45 per cent (Super Senior) Effective: From May 16, 2025 Canara Bank Scheme : 444-Day FD Scheme Rates : 7.25 per cent (General), 7.75 per cent (Senior), Not specified (Super Senior) Effective : From April 10, 2025 Bank of Baroda Scheme : Square Drive Deposit Scheme Rates : 7.10 per cent (General), 7.60 per cent (Senior), 7.70 per cent (Super Senior) Effective : From May 5, 2025 Indian Bank Scheme : IND SECURE Rates : 7.15 per cent (General), 7.65 per cent (Senior), 7.90 per cent (Super Senior) Valid Till : September 30, 2025 Note: Tenure of all schemes is 444 days Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
